Save Article

J.P Morgan Raises Cash
For a New 'Fund of Funds'

By

Kopin Tan Dow Jones Newswires

Updated Sept. 7, 2000 5:40 p.m. ET

NEW YORK -- J.P. Morgan & Co. is marketing a fund that will pool capital from institutional and private banking clients to invest in venture capital firms and deals, said people familiar with the New York investment firm's efforts.

The new "fund of funds" has a target of $1.5 billion, although industry observers expect it to raise more than $2 billion by the time it closes later this year.